Tata Steel Advanced Materials Limited, a subsidiary of Tata Steel Limited (TTST.L), Monday announced that the company has approved the divestment of the entire equity and preference shares in Ceramat Private Limited, to Lionstead Applied Materials Private Limited.
Concurrently, a share purchase agreement has been executed between all three companies and other shareholders of Ceramat Private Limited.
Following this move, Ceramat Private Limited will cease to be a subsidiary of Tata Steel Advanced Materials Limited.
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